Editor's Note: In the video below, Olysio's sales for the quarter are identified as $365 million. Olysio's actual sales were $354 million. The Fool regrets the error.
Johnson and Johnson (NYSE:JNJ) reported quarterly earnings on Tuesday, and one division stood out as the clear growth driver: pharma. With 11% growth reported, it easily outpaced revenue growth the other two main components of JNJ's business -- consumer goods, which declined over 3%, and medical devices and diagnostics, which was basically flat.
A number of drugs contributed to this impressive growth, with revenue from Stelara for plaque psoriasis and psoriatic arthritis up 32% year-over-year to $456 million and Zytiga for metastatic castration-resistant prostate cancer up 49% to $512 million. Remicade continued its solid performance, up slightly to $1.6 billion in sales for the quarter.
In this video, taken from Tuesday's Market Checkup, Motley Fool health care analysts David Williamson and Michael Douglass dig into the pharma segment and discuss the one drug which surprised investors with its strong performance last quarter -- could it become a blockbuster?
David Williamson owns shares of Johnson & Johnson. Michael Douglass has no position in any stocks mentioned. The Motley Fool recommends Gilead Sciences and Johnson & Johnson. The Motley Fool owns shares of Johnson & Johnson. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.